Eric Levenstein has been a Director of Werksmans Attorneys since 1993 and is the head of the firm’s Insolvency & Business Rescue Practice. He has a particular focus on litigation, business rescue and insolvency, with expertise extending to director liability issues. He regularly delivers seminars and writes for various publications on these topics, among others. He is the Chairperson of the South African Restructuring and Insolvency Practitioners Association (SARIPA) and is Chair of the Insolvency Practitioners Group (IPG) of INSOL International – Global Association of Restructuring, Insolvency & Bankruptcy Professionals. Eric is also a co-chair of the INSOL Africa Advisory Council. Eric has BCom and LLB degrees, Higher Diplomas in Company Law and Tax, a Diploma in Insolvency Law and a Doctorate of Laws in Business Rescue.
Experience: 35years
Insolvency & Business Rescue
Insolvency, Business Rescue & Restructuring
Advised / Represented / Acted on behalf of:
Comair Limited, its business rescue practitioners and its liquidators, in its business rescue and liquidation proceedings and involving the recognition of Comair's insolvency proceedings in the US Bankruptcy Court, New York
DewCrisp in the urgent application to court in terms of section 131 of the Companies Act and the drafting of the business rescue plan. This deal was shortlisted by DealMakers for Business Rescue Transaction of the Year (2023)
a large group of foreign creditors (noteholders) in the business rescue proceedings of Southgold Exploration (Pty) Limited
a consortium of international lenders (UK) in connection with finance and restructuring advice of Lonmin (mining) and Edcon (retail)
the business rescue practitioners of Optimum Coal Mine, Andalusite Mine and Black Chrome Mine (Mining)
Nortel Networks (UK) (multi-national telecommunications) in a liquidation matter in respect of its South African subsidiary
the foreign trustees of SunEdison Inc in respect of the local wind-down of their South African subsidiaries
Nedbank, a major creditor of Stuttafords (retail) in the course of its business rescue proceedings
the directors and shareholders of South African Calcium Carbide in respect of its business rescue proceedings
the business rescue practitioners of Basil Read, Group Five, and Consolidated Infrastructure Group (construction)
Standard Bank in respect of its exposure to CMC Ravenna (Italian)
various stakeholders in the business rescue proceedings of South African Airways (SAA)
Comair Limited and its business rescue practitioners
SAA and Mango Airlines in Mango's business rescue proceedings
a major foreign conglomerate in the IT industry in respect of major litigation in the South African Court
Nedbank, Standard Bank, Sasfin Bank, Investec Bank and Absa Bank in respect of the recovery of corporate debt exposure in various financially distressed companies
directors, shareholders, creditors, business rescue practitioners and liquidators on their rights in business rescue and insolvency proceedings including cross-border issues
foreign and local clients in respect of the effect that relevant legislation will have on securities held by such clients in various companies filing for business rescue and insolvency proceedings
various shareholders and directors in respect of disputes involving corporate governance and liability issues
numerous clients as to the impact of the insolvent trading provisions of the Companies Act on the personal liability of directors
LLD – Doctorate of Laws (Business Rescue), University of Pretoria, 2016
Diploma in Insolvency Law, University of Johannesburg, 1997
Higher Diploma in Tax, University of the Witwatersrand, 1993
Higher Diploma in Company Law, University of the Witwatersrand, 1991
LLB, University of the Witwatersrand, 1986
BCom, University of KwaZulu-Natal, 1984
Appointed Chairman of The South African Restructuring and Insolvency Practitioners Association (SARIPA) in January 2019
Appointed Board Member of INSOL International (a worldwide group of Insolvency Practitioners (INSOL)) from 2018 to 2023
Appointed Chairman of the INSOL Insolvency Practitioners Group in 2021. The committee is made up of a working group of international lawyers, accountants and insolvency practitioners with a focus on cutting edge issues involving insolvency, rescue, and liquidation
Appointed Co-Chair of INSOL's African Advisory Council in 2022
Recognised in international rating publications as a:
Ranked lawyer (Band 1) by Chambers Global | 2017- 2024, 2025 | Restructuring / Insolvency - 9 years ranked
Thought Leader Africa by Who's Who Legal | 2023 | Asset Recovery
Ranked as a leading lawyer by Who's Who Legal | 2014, 2016 – 2020, 2023, 2024 | Restructuring & Insolvency
Ranked by Best Lawyers | 2023 | Insolvency and Reorganisation Law
Ranked as a highly commended lawyer by The Legal 500 | 2012 – 2017 | Dispute Resolution (Business Rescue)
Ranked as a recommended lawyer by PLC Which Lawyer | 2013 | Restructuring and Insolvency
Has given numerous presentations on insolvency, business rescue, and director's liability
A regular contributor to the media on the effect of business rescue on companies and creditors, insolvency, and director's liability
Contributor to the German Münchener Kommentar on South African Insolvency Law – EuInsVO 2015
Authorship
Author of South African Business Rescue Procedure (published in October 2017 by Lexis Nexis) and updates
Johannesburg 
+27 11 535 8237 
